I don’t pay nearly enough tax, says ‘coddled’ Buffett

Warren Buffett said that he paid only 17.4 per cent tax — less than his secretaryNati Harnik / AP

The world’s third-richest man is unhappy about the amount of tax he has to pay: he says it is not nearly enough.

That’s not all. Warren Buffett says that his wealthy friends do not pay enough either. Indeed, he says that his tax rate is barely half that of his secretary. Mr Buffett calculates that his effective rate last year was 17.4 per cent compared with 33 to 41 per cent for colleagues in his office.

Yesterday Mr Buffett took to the pages of The New York Times to demand a high tax bill for himself and his “mega rich” cronies. “My friends and I have been coddled long enough by a billionaire-friendly Congress,” he wrote. “It’s time for our Government to get serious about…

Want to read more?

Subscribe now and get unlimited digital access on web and our smartphone and tablet apps, free for your first month.